Saba Capital Management, L.P. Sells 9,211 Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Saba Capital Management, L.P. sold 9,211 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $42.46, for a total value of $391,099.06. Following the sale, the insider now directly owns 1,066,901 shares in the company, valued at $45,300,616.46. This represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, December 30th, Saba Capital Management, L.P. sold 5,667 shares of Tortoise Energy Infrastructure stock. The shares were sold at an average price of $41.61, for a total value of $235,803.87.

Tortoise Energy Infrastructure Stock Up 0.1 %

TYG stock opened at $42.00 on Thursday. Tortoise Energy Infrastructure Co. has a 52 week low of $28.01 and a 52 week high of $46.35. The business has a 50-day simple moving average of $42.92 and a 200 day simple moving average of $38.83.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently declared a — dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.365 per share. This represents a dividend yield of 7.4%. The ex-dividend date of this dividend is Friday, February 21st.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its holdings in shares of Tortoise Energy Infrastructure by 58.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,347 shares of the financial services provider’s stock valued at $838,000 after purchasing an additional 7,891 shares in the last quarter. Stifel Financial Corp boosted its stake in Tortoise Energy Infrastructure by 7.7% in the third quarter. Stifel Financial Corp now owns 38,483 shares of the financial services provider’s stock valued at $1,510,000 after buying an additional 2,758 shares in the last quarter. De Lisle Partners LLP grew its position in Tortoise Energy Infrastructure by 42.3% in the third quarter. De Lisle Partners LLP now owns 66,093 shares of the financial services provider’s stock valued at $2,593,000 after acquiring an additional 19,644 shares during the last quarter. D.A. Davidson & CO. raised its stake in Tortoise Energy Infrastructure by 6.0% during the third quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider’s stock worth $457,000 after acquiring an additional 661 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Tortoise Energy Infrastructure by 12.9% in the third quarter. Advisors Asset Management Inc. now owns 251,075 shares of the financial services provider’s stock worth $9,855,000 after acquiring an additional 28,661 shares during the last quarter. 32.50% of the stock is owned by institutional investors.

About Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corporation is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating in the energy infrastructure sector, with an emphasis on those companies that are engaged in transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (primarily propane), coal, crude oil or refined petroleum products, or exploring, developing, managing or producing such commodities.